S&P affirms Cedar Brakes bonds

Standard & Poor's said it affirmed its BBB- ratings on Cedar Brakes II LLC's $362.2 million senior secured bonds due 2013 and Cedar Brakes I LLC's $310.6 million senior secured bonds due 2014.

Both ratings were removed the rating from CreditWatch where they were placed with positive implications on June 10. The outlook is stable.

"The rating action follows our affirmation of the BBB- senior unsecured debt ratings on Constellation Energy Group Inc. following completion of its merger with Exelon Corp.," said S&P credit analyst Theodore Dewitt in a news release.

According to S&P, Exelon has assumed Constellation's senior unsecured notes.

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